Sarah Geegan

Final Financial Model E-newsletter for Fall 2013 Semester

Published: Dec 19, 2013

LEXINGTON, Ky. (Dec. 19, 2013) In a commitment to keep the University of Kentucky community informed and engaged in the process of transitioning to a new financial model, UK Provost Christine Riordan and Executive Vice President for Financial Affairs Eric Monday issued the latest newsletter with updates on the financial model.

 

The e-newsletter was distributed Thursday, Dec. 19.  Following is the full message:

 
 
Dear Colleagues, 
 
In our last communication of the semester about the new financial model, we want to 
discuss how another major pool of resources will be more transparently handled -- the 
tuition dollars we receive from families and students. 
 
UK this year will receive about $345 million of tuition revenue. Under the values-based 
financial model, every college will be given credit for teaching students. 
 
For the most part, except in special cases in which this formula is altered, 75 percent of 
tuition dollars will go to the college of the faculty member where classes are taught 
regardless of a student’s major. And 25 percent will go to the college where a student is 
majoring. In cases of double majors, this portion of the tuition is shared if multiple 
colleges are involved. 
 
It's a transparent way of allocating the flow of tuition dollars throughout the university to 
support the important work faculty do in educating students. 
 
In our current incremental model, tuition doesn’t flow directly to the colleges where the 
revenue is generated. Instead, the university allocates funds to colleges based upon 
defined needs or areas where growth patterns indicate additional resources are 
necessary. Without a direct formula allocation, it is more difficult for colleges to 
determine where to invest revenue in a strategic fashion to create an innovative learning 
environment to educate and graduate students in the most effective way possible. The 
new model allows colleges to see how the funds are flowing and invest in important 
areas as they continue to focus on quality and excellence. 
 
Next semester, we will continue with regular communication about this important tool for 
our institution. As always, the goal is to frequently and transparently continue the 
dialogue over the next year about how the model will help us maximize the work we do 
together. At the same time, as we continue that dialogue, we will be listening for ways 
we can make improvements to the model. Thanks for the great feedback so far. 
 
Thanks and have a happy holiday. 
 
 
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September
 
1
Employee Educational Assistance Award
Labor Day - Academic Holiday
Mon
2
Employee Educational Assistance Award
Internship Info Session
Student/Faculty/Staff Mixer
Tue
3
Employee Educational Assistance Award
LNFS Presents: The Wolf of Wall Street
Last Day to Add a Class
Last Day to Drop a Course with 80% Refund
UK Volunteer Fair
Wed
4
LNFS Presents: Children of Men
LNFS Presents: How To Train Your Dragon 2
Black and Latino Male Initiative
Advance Your Swagger: A Night with Fonzworth Bentely
Thu
5
Kentucky Volleyball vs. Northern Iowa
Kentucky Volleyball vs. USC
LNFS Presents: Spirited Away
LNFS Presents: Mulan
Fri
6
Free Saturday Swing Dance Lessons
Kentucky Football vs. Ohio
#maxfest (Ukirklex Campus Ministry)
Kentucky Volleyball vs. Creighton
Lets Swing Dance!
Sat
7
Kentucky Women's Soccer vs. Morehead State
Sun
8
Diversity Organization's Council
Kosher/Soul? (Jewish, African American & Appalachian culture Fuse)
Mon
9
Working Moms Connection
Job Club - Job Search Strategies for Fall
Rock Star Professionalism Series
Tue
10
Massage on the Go
College: Do the Right Thing- A conversation with Dr. Smith
The Future of Islam
LNFS Presents: Fight Club
Wed
11
9/11 Vigil
UKNABJ presents: Ferguson, Missouri: A look at media, politics and black youth in the U.S.
LNFS Presents: Mr & Mrs Smith
Duo Damiana, Molly Barth and Dieter Hennings
LNFS Presents: 22 Jump Street
Thu
12
LNFS Presents: Searching For Sugarman
LNFS Presents: Sin City
Fri
13
Free Saturday Swing Dance Lessons
Men's Soccer vs. ETSU
Sat
14
Kentucky Women's Soccer vs. Pepperdine
Sun
15
Kentucky Week Farmer's MarCat and Craft Fair
Majestic U.N.I.T.Y.
Mon
16
Justice Delayed not Justice Denied: A Talk with Dough Jones
PRHBTN Gallery Reception and Concert
Men's Soccer vs. Xavier
Chellgren Seminar Series: Buck Ryan
Tue
17
Internship Info Session
Last Day to Drop a Course Without Appearing on Transcript
Caregiver Support Group
LNFS Presents: The Immigrant
Big Blue Commonwealth
Wed
18
LNFS Presents: Watermark
LNFS Presents: X-Men: Days of Future Past
Ryan Gardner Guest Trumpet Recital
Kentucky Volleyball vs. Lipscomb
Thu
19
LNFS Presents: A Band Called Death
LNFS Presents: Prisoners
Men's Soccer vs. Furman
Fri
20
Rock Climbing @ Red River Gorge
College of Pharmacy Open House
Kentucky Volleyball vs. Xavier
Sat
21
 
Sun
22
Diana Ferrus: 'Writing poetry has allowed me to live': Cultural Resistance in South Africa
Kentucky Law Schools Forum
Mon
23
Pinterest Party
University of Kentucky Chamber Winds
Employer Showcase
Job Club - 10 Questions to Ask Prior to Starting a Business
Men's Soccer vs. Lousville
Tue
24
Employer Showcase
Last Day to Drop a Course with 50% Refund
UK Elder Care Lunch & Learn
BPH Open House
LNFS Presents: Saving Mr. Banks
Wed
25
LNFS Presents: Culture Jam
LNFS Presents: Maleficent
¡Baila!
Thu
26
LNFS Presents: Ponyo
LNFS Presents: The Little Mermaid
Opening Night Bohemiam Festival
White Water Rafting @ Chattooga River
Women's Soccer vs. Mississippi State
Fri
27
White Water Rafting @ Chattooga River
Kentucky Football vs. Vanderbilt
Free Saturday Swing Dance Lessons
Swing Dancing!
Sat
28
White Water Rafting @ Chattooga River
UK Chorale
Dirty Dancing Trip
Kentucky Women's Soccer vs. Auburn
Sun
29
 
Mon
30
#TrendingTopics: Immigration Reform
Apollo Duo - Flute and Percussion Guest Recital
Tue
 
 
 
 
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